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PRESS RELEASE
UNTUK SEGERA DISIARKAN
Laba Bersih 9M 2024 TINS Melesat, Fundamental Keuangan Semakin Kuat
Jakarta, 01 November 2024 – PT TIMAH Tbk (“Perseroan”; IDX: TINS) hari ini mengumumkan
Laporan Keuangan Konsolidasian untuk periode yang berakhir 30 September 2024.
Ditengah fluktuasi harga logam timah selama tiga bulan terakhir karena pasar logam bereaksi
terhadap perubahan sentimen global, dengan pemangkasan suku bunga AS, langkah-langkah
stimulus China serta terhambatnya pasokan logam timah dunia menjadikan harga logam timah
London Metal Exchange (LME) masih bertengger dikisaran USD 33.000 per metrik ton pada
akhir September 2024.
Berdasarkan CRU Tin Monitor, sampai dengan September 2024 pertumbuhan konsumsi logam
timah dunia diperkirakan naik 2,6% (YoY) menjadi 270.603 ton dan produksi logam timah dunia
diperkirakan turun 7,7% (YoY) menjadi 253.598 ton.
Persediaan logam timah di gudang LME pada akhir September 2024 berada di posisi 4.660 ton,
turun 37,4% dari awal tahun 2024 di posisi 7.450 ton.
“Seiring dengan upaya peningkatan kinerja operasi produksi, kinerja keuangan, serta perbaikan
tata kelola pertambangan timah, TINS berhasil membukukan laba bersih 9M 2024 sebesar
Rp908,81 miliar yang berdampak positif terhadap fundamental keuangan TINS yang semakin
kuat.” ujar Fina Eliani Direktur Keuangan dan Manajemen Risiko PT TIMAH Tbk.
Kinerja Operasi
Sampai dengan kuartal III-2024, TINS mencatat produksi bijih timah sebesar 15.189 ton atau
naik 36% dibandingkan periode yang sama tahun sebelumnya 11.201 ton. Adapun produksi
logam naik 25% menjadi 14.440 metrik ton dibandingkan periode yang sama tahun sebelumnya
sebesar 11.540 metrik ton, sedangkan penjualan logam timah naik 21% menjadi 13.441 metrik
ton dibandingkan periode yang sama tahun sebelumnya sebesar 11.100 metrik ton.
Faktor peningkatan produksi pada kuartal III-2024 jika dibandingkan tahun sebelumnya karena
adanya penambahan jumlah unit tambang darat, pembukaan lokasi baru, jumlah kapal isap
produksi dan ponton isap produksi yang beroperasi, sehingga secara bertahap memperbaiki
kinerja operasi produksi Perseroan.
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Harga jual rata-rata logam timah sebesar USD31.183 per metrik ton atau naik 15%
dibandingkan periode yang sama tahun sebelumnya sebesar USD27.017 per metrik ton. Dalam
kurun waktu 9M 2024, TINS mencatatkan ekspor timah sebesar 91% dengan 6 besar negara
tujuan ekspor meliputi Singapura 16%; Korea Selatan 15%; India 11%; Jepang 10%; Amerika
Serikat 9% dan Belanda 8%.
Kinerja Keuangan
Sampai dengan September 2024, Perseroan berhasil mencatatkan laba positif sebesar
Rp908,81 miliar atau 169% dari target yang sudah ditentukan Perseroan.
Perseroan membukukan pendapatan sebesar Rp8,25 triliun meningkat 29% dari Rp6,38 triliun
di 9M 2024 ditengah kenaikan harga jual rata-rata logam timah sebesar 15% dari USD27.017
per metrik ton di 9M 2023 menjadi USD31.183 per metrik ton di 9M 2024.
Di sisi lain, harga pokok pendapatan Perseroan naik sebesar 4,5% dari Rp5,79 triliun di 9M 2023
menjadi Rp6,05 triliun di 9M 2024. Sehingga Perseroan membukukan laba usaha sebesar
Rp1,42 triliun dengan pencapaian EBITDA sebesar Rp2,08 triliun atau 194% dari 9M 2023.
Nilai aset Perseroan pada 9M 2024 turun 0,3% menjadi Rp12,82 triliun dari Rp 12,85 triliun
pada posisi aset akhir tahun 2023. Sementara, posisi liabilitas Perseroan turun 14,8% sebesar
Rp5,63 triliun, dibandingkan posisi akhir tahun 2023 sebesar Rp6,61 triliun dikarenakan
berkurangnya interest bearing debt (IBD).
Posisi ekuitas sebesar Rp7,18 triliun, naik 15,1% dibandingkan posisi akhir tahun 2023 sebesar
Rp6,24 triliun.
Kinerja keuangan Perseroan menunjukkan hasil yang baik, terlihat dari beberapa rasio
keuangan penting di antaranya Quick Ratio sebesar 76,0%, Current Ratio sebesar 249,0%, Debt
to Asset Ratio sebesar 44,0%, dan Debt to Equity Ratio sebesar 78,4%.
Dalam meningkatkan kinerja keuangan, Perseroan melakukan reprofiling pinjaman dan
refinancing pinjaman jangka panjang dengan suku bunga yang lebih kompetitif serta telah
menurunkan Interest Bearing Debt sebesar Rp 1,4 triliun dari Rp 3,5 triliun di akhir tahun 2023
menjadi Rp 2,1 triliun di September 2024. Hal ini berdampak pada peningkatkan kesehatan
rasio keuangan Perseroan.
Kondisi saat ini dan prospek ke depan
Harga rata-rata logam timah Cash Settlement Price LME sampai dengan September 2024
sebesar USD 30.130 per ton atau naik 13,9% dibandingkan dengan periode yang sama tahun
sebelumnya sebesar 26.456 serta proyeksi harga timah versi Bloomberg di kisaran USD 28.000
– 31.000 per metrik ton.
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Perseroan telah melakukan upaya untuk meningkatkan kinerja pemasaran diantaranya dengan
melakukan penjualan logam timah berdasarkan spesifikasi yang diperlukan oleh konsumen dan
melakukan pricing dengan harga optimal.
Perseroan akan mengambil langkah strategis untuk mencapai target pemasaran dengan
memprioritaskan kebutuhan dalam negeri dalam rangka mendukung hilirisasi, optimalisasi
penjualan ekspor untuk memenuhi permintaan pasar global, menjaga kualitas produk dan
pelayanan melalui distribusi, kecepatan dan ketepatan dokumentasi, pelayanan purnajual,
ketepatan waktu pengiriman produk dan layanan yang konsisten, merupakan strategi yang
berkaitan erat dengan pengembangan pasar, serta menyesuaikan volume penjualan agar tidak
terjadi oversupply logam timah di pasar yang berpotensi menurunkan harga jualnya.
Sampai dengan kuartal III 2024, Perseroan juga telah melakukan berbagai upaya untuk
meningkatkan kinerja operasi produksi diantaranya optimalisasi produksi tambang laut dan
darat, optimalisasi peralatan tambang serta optimalisasi produksi dari sisa hasil pengolahan.
Selanjutnya, Perseroan terus berupaya mencapai target produksi dengan melakukan beberapa
inisiatif strategis diantaranya peningkatan sumber daya dan cadangan secara organik/
anorganik, optimalisasi penambangan dan pengolahan timah primer site Batu Besi dan Paku
melalui peningkatan recovery, perbaikan tata kelola kemitraan penambangan, serta
optimalisasi produksi melalui percepatan pembukaan lokasi baru.
--- selesai ---
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Sekilas PT TIMAH Tbk
PT TIMAH Tbk adalah anak usaha dari holding pertambangan Indonesia MIND ID merupakan
produsen timah terkemuka sekaligus eksportir timah terbesar di dunia dengan wilayah
operasional pertambangan dan peleburan logam timah di provinsi Bangka Belitung, Kepulauan
Riau, dan Riau.
Menjadi Perseroan Terbatas sejak tahun 1976 dan melantai di Bursa Efek Indonesia sejak tahun
1995, PT TIMAH Tbk menjalankan bisnis timah yang terintegrasi secara vertikal, mulai dari
kegiatan eksplorasi, penambangan, peleburan dan pemurnian logam timah hingga pemasaran
yang melayani para pelanggan internasional maupun domestik. Produk logam timah dengan
merek “Banka Tin”, “Kundur Tin”, dan “Mentok Tin” memiliki reputasi internasional dan telah
terdaftar di London Metal Exchange (LME).
Saat ini PT TIMAH Tbk yang merupakan anggota dari International Tin Association (ITA) memiliki
4 (empat) lini bisnis utama yakni pertambangan timah, hilirisasi timah (tin chemical dan tin
solder), pertambangan non‐timah (batubara dan nikel), serta bisnis berbasis kompetensi
termasuk properti, galangan kapal, agro bisnis.
Untuk keterangan lebih lanjut dapat menghubungi:
Abdullah Umar, Corporate Secretary
Telepon : +62 (21) 23528000 dan +62 (717) 4258000
Email : corsec@pttimah.co.id
Website : www.timah.com
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PT TIMAH Tbk
Ikhtisar Unjuk Kerja
9M 2024 dan 9M 2023
9M 2024 9M 2023 Perubahan (%)
Keterangan
a b (a-b)/b
Produksi bijih timah - Ton Sn
Darat 6.607 3.435 92%
Laut 8.582 7.766 11%
Total 15.189 11.201 36%
Produksi logam timah - Metrik Ton 14.440 11.540 25%
Penjualan logam timah - Metrik Ton 13.441 11.100 21%
Harga Jual Rata-Rata - US$/Metrik Ton 31.183 27.017 15%
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PRESS RELEASE
FOR IMMEDIATE RELEASE
Net Profit 9M 2024 of TINS Soars, Financial Fundamentals Stronger
Jakarta, November 01, 2024 – PT TIMAH Tbk (“the Company”; IDX: TINS) today announced its
Consolidated Financial Statements for the period ended September 30, 2024.
Amid fluctuations in tin metal prices over the past three months as metal markets react to
changes in global sentiment, with US interest rate cuts, China's stimulus measures as well as
the hampering of world tin metal supply, the London Metal Exchange (LME) tin metal price is
still around USD 33,000 per metric ton by the end of September 2024.
Based on CRU Tin Monitor, until September 2024, global tin metal consumption growth is
estimated to increase by 2.6% (YoY) to 270,603 tons and global tin metal production is
estimated to decrease by 7.7% (YoY) to 253,598 tons.
Tin metal inventories at LME warehouses at the end of September 2024 stood at 4,660 tons,
down 37.4% from the beginning of 2024 at 7,450 tons.
"Along with efforts to improve production operation performance, financial performance, and
improve tin mining governance, TINS managed to book 9M 2024 net profit of Rp908.81 billion
which has a positive impact on TINS' increasingly strong financial fundamentals." said Fina Eliani
Director of Finance and Risk Management of PT TIMAH Tbk.
Operation Performance
Until the third quarter of 2024, TINS recorded tin ore production of 15,189 tons or up 36%
compared to the same period the previous year of 11,201 tons. Meanwhile, tin metal
production rose 25% to 14,440 tons compared to the same period the previous year of 11,540
tons, while tin metal sales rose 21% to 13,441 tons compared to the same period the previous
year of 11,100 tons.
The factor for the increase in production in the third quarter of 2024 when compared to the
previous year was due to the addition of the number of onshore mining units, the opening of
new locations, the number of production suction vessels and production suction pontoons in
operation, thus gradually improving the performance of the Company's production operations.
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The average selling price of tin metal was USD31,183 per metric ton, up 15% compared to the
same period last year of USD27,017 per metric ton. In the 9M 2024 period, TINS recorded tin
exports of 91% with the top 6 export destination countries including Singapore 16%; South
Korea 15%; India 11%; Japan 10%; United States 9% and Netherlands 8%.
Financial Performance
As of September 2024, the Company managed to record a positive profit of Rp908.81 billion or
169% of the target set by the Company.
The Company booked revenues of Rp8.25 trillion, an increase of 29% from Rp6.38 trillion in 9M
2024 amid a 15% increase in average selling price of tin metal from USD27,017 per metric ton
in 9M 2023 to USD31,183 per metric ton in 9M 2024.
On the other hand, the Company's cost of revenue increased by 4.5% from Rp5.79 trillion in
9M 2023 to Rp6.05 trillion in 9M 2024. As a result, the Company booked an operating profit of
IDR1.42 trillion with an EBITDA of IDR2.08 trillion or 194% from 9M 2023.
The Company's assets in 9M 2024 decreased by 0.3% to Rp12.82 trillion from Rp12.85 trillion
at the end of 2023. Meanwhile, the Company's liabilities decreased by 14.8% to Rp5.63 trillion,
compared to the year-end 2023 position of Rp6.61 trillion due to the reduction of interest
bearing debt (IBD).
Equity position amounted to Rp7.18 trillion, up 15.1% compared to year-end 2023 position of
Rp6.24 trillion.
The Company's financial performance showed good results, as seen from several important
financial ratios including Quick Ratio of 76.0%, Current Ratio of 249.0%, Debt to Asset Ratio of
44.0%, and Debt to Equity Ratio of 78.4%.
In improving financial performance, the Company is reprofiling loans and refinancing long-term
loans with more competitive interest rates and has reduced Interest Bearing Debt by Rp 1.4
trillion from Rp 3.5 trillion at the end of 2023 to Rp 2.1 trillion in September 2024. This has an
impact on improving the health of the Company's financial ratios.
Current conditions and prospects for the future
The average price of tin metal Cash Settlement Price LME until September 2024 is USD 30,130
per ton or up 13.9% compared to the same period the previous year of 26,456 and the
Bloomberg tin price projection is in the range of USD 28,000 - 31,000 per metric ton.
The Company has made efforts to improve marketing performance, including by selling tin
metal based on the specifications required by consumers and pricing at optimal prices.
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The Company will take strategic steps to achieve marketing targets by prioritizing domestic
needs in order to support down streaming, optimizing export sales to meet global market
demand, maintaining product quality and services through distribution, speed and accuracy of
documentation, after-sales service, timeliness of product delivery and consistent services, is a
strategy that is closely related to market development, and adjusting sales volumes so that
there is no oversupply of tin metal in the market which has the potential to lower its selling
price.
Until the third quarter of 2024, the Company has also made various efforts to improve the
performance of production operations, including optimizing offshore and inland mining
production, optimizing mining equipment and optimizing production from processing residues.
Furthermore, the Company continues to strive to achieve production targets by carrying out
several strategic initiatives, including increasing resources and reserves
organically/inorganically, optimizing primary tin mining and processing at the Batu Besi and
Paku sites through increasing recovery, improving mining partnership governance, and
optimizing production through accelerating the opening of new locations.
--- Finished ---
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A brief description about PT TIMAH Tbk:
PT TIMAH Tbk, a subsidiary of Indonesian mining holding company MIND ID, is the leading tin
producer as well as the largest tin exporter in the world with mining and smelting operations
in Bangka Belitung, Riau Islands, and Riau.
Being a Limited Liability Company since 1976 and listed in the Indonesian Stock Exchange since
1995, PT TIMAH carries out vertically integrated tin business from exploration, mining, smelting
and refining, to marketing for overseas and domestic customers. Refined tin products with the
brands "Banka Tin", "Kundur Tin" and "Mentok Tin" officially registered in the London Metal
Exchange (LME) are considered to be the most preferred brand.
Currently PT TIMAH which is a member of the International Tin Association (ITA) has 4 (four)
main business lines namely tin mining, downstream products (tin chemical and tin solder), non‐
tin mining (coal and nickel), as well as competency‐based businesses such as hospitals,
property, shipyards, agribusiness.
Further information, please contact:
Abdullah Umar, Corporate Secretary
Telepon : +62 (21) 23528000 dan +62 (717) 4258000
Email : corsec@pttimah.co.id
Website : www.timah.com
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PT TIMAH Tbk
Performance Highlight
9M 2024 and 9M 2023
Remarks 9M 2024 9 2023 Change (% )
a b (a-b)/b
Production of tin ore - Ton Sn
Onshore 6,607 3,435 92%
Offshore 8,582 7,766 11%
Total 15.189 11,201 36%
Production of refined tin - Metric Ton 14,440 11,540 25%
Sales of refined tin - Metric Ton 13,441 11,100 21%
Average selling price - US$/Metric Ton 31,183 27,017 15%
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